Obyte: Totally new consensus algorithm + private untraceable payments

[SatoNatomato]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

well lets do some simple math.

ICONOMI - one of the linked addresses to receive byteballs.

ICONOMI linked 70k btc - giving them 9.766% of the total supply by the time all distribution is over.

so they currently own 9766 byteballs = 245btc = $221,446 US dollars.

mid feb is the next round. they enter the 70k BTC once again, and in turn earn another 9766 Byteballs

assuming the price stays the same =

ICONOMI will own over 2.2million dollars USD or 10% of a currency.

one single entity owns 10% vs the other 7billion people on earth.


and that is just ICONOMI.. not to mention the other people that own large percentage.. LISK etc.


how is this fair, your giving a small portion of about 10 people 95% of the supply.




your project is already set up to fail, another project will take its place with a clone of byteballs with a fair distribution, excellent idea, failed distribution method, logic = lets give millionaires massive portions of the supply.

They dont earn another, next round each 1btc will give you 62.5megabytes only.

How is this fair? How is it in the real world, yet you are transacting with currencies? You think on your national economy that 1% or less of the population does not control the 90% of money supply? That 1 person can not crash your average western european countries economy? LOL. And extended to world economy, 150 people can move as much capital as the next 6billion combined.

If you are dealing with money, if you are buying and selling goods, you are contributing to inequality and unfair unjust world. Each transaction you make, and every one else makes with anything of value, is contributing to inequality. Rich get richer and poor get poorer, its not a dumb cliche its a realization of facts builtin any economical system. If you like to try alternatives go to Venezuela.

Can you point to any economy in the real world in any historical point in time where distribution is equal and is over time equalizing? LOL.

Money is the root of all evil, it is designed not to be equal and fair, any monetary system which goes against this basic truth fails and people dont consider it valuable to transact with.

Life is unfair, deal with it. I got my 1gb from 1btc, and bought more with the same 1btc, now I have +40GB. Now I am 1000001.23% richer than all the 99.9% of people of planet earth who didnt know how to buy a btc and sign a message with their wallet, those who still have 0gb. Unfair to them? Iconomi is looking down on my 40gb from their stash of their 9138312gb, so what?

What would you suggest would be a better distribution method? How would you do your byteball clone to be fair?

Ok your "deal with it" approach isn't making things sound any better

how would i make my clone different? max of 10btc linked. fair. now its averaged against everyone somewhat equally, not 1 entity has 100000x times more than every other person, ready waiting to dump the market with over $250,000 usd worth.


i think with such a new approach, why set up for failure, is this method the absolute fairest and best method the developer could think of? or am i missing something?

its the equivalent of having 1000 people stuck on an island and finding a load of 500 apples, and saying ok lets give 4 people 448 of those apples, and the remaining 996 people will have to share 2 apples. its actually cringe worthy how they think this was ever fair, its setup the market for failure, this will continue to be a topic of weakness throughout the coins life.

Max 10btc linked you say? Oh much wow, now it will take me a whole 2 minutes to create 23370 btc addresses and transfer my btc amounts amongst them, then link them individually with each holding 9.99btc.

Dont worry, if the method of distribution was magically fair, somehow from a real helicopter drone dropped bytes to Yemeni people equally as to rich Germans, you would still find something to complain about for the coins life, did the helicopters pollute the environment too much and scare the bird-life? Discuss.

Lisk aren't about to split there 7000 btc into 700 separate addresses.

10btc max would make it a whole lot fairer. people owning larger amounts is fine, but people owning 10% is a little overboard. whats the logic, they rich so lets make em richer?


lets go distribute free lambo's, but only give them to people who already own lambo's.. and the people who drive a 1985 ford only get a lambo valve cap.

Oh okay so you say "they arent about to" so that is the success formula for a fair distribution.

Just like that waves (or whatever dumb crypto pseudo company) guy said they would distribute their received bytes among their customers, and then a day later said "lol no we will give them btc 'tokens'".

Your way of thinking with your island analogy, 1000 apples in a basket arrive and their owner says "will give 1 apple for 1 piece of paper 1cm in square size", and you assume the guy holding a large sheet of paper several meters in size wont have a scissors to cut his big-sheet into smaller pieces to receive more apples instead of 10? Yeah, that distribution method you have is ingenious, if only there was other geniuses like you in the world to think of this before!

no.. my idea was something thought up in about 3 seconds, its not an alternative method.


there has to be a fairer distribution method. the current method is ridiculous, and whatever anyone writes you will argue against because thats your personality. so ill stop there.

No you are mistaken, that is not my personality, I argue against this criticism of byteball - that the distribution method is unfair - because _that_ criticism is unfair. You dont even have an alternative solution.

The distribution method is the best we, the community of honest cryptonerds, can currently think of, and put in practice right a few weeks ago. As you see, you cant even think of a better distribution method in 3 seconds, but you are free to come back when you have an alternative functioning ready to implement fair distribution method and _then_ criticize byteball and others who distribute digital coins according to best effort at fairness currently known.

[JohnBidwell]

So much back and forth you guys should get a room. Byte balls has failure written all over it.

[DooMAD]

Even after all these pages there's still some people whining about the distribution method.  While I'm sure suggestions are most welcome, check your damn tone and stop sounding so adamant about how "wrong" or "unfair" the distribution method supposedly is.  Instead of demanding shit from someone who has made the effort and done all the work, why don't you stop being lazy and make your own coin with your preferred distribution method?  Self-entitled ingrates.  No one is forcing you to be here, so it stands to reason that all you're capable of is whining and have no discernible talents that would allow you to come up with anything better.

[metamorphin]

Even after all these pages there's still some people whining about the distribution method.  While I'm sure suggestions are most welcome, check your damn tone and stop sounding so adamant about how "wrong" or "unfair" the distribution method supposedly is.  Instead of demanding shit from someone who has made the effort and done all the work, why don't you stop being lazy and make your own coin with your preferred distribution method?  Self-entitled ingrates.  No one is forcing you to be here, so it stands to reason that all you're capable of is whining and have no discernible talents that would allow you to come up with anything better.

TOP...now this should end the senseless discussion!

I fully agree with you.

[zanzibar]

Even after all these pages there's still some people whining about the distribution method.  While I'm sure suggestions are most welcome, check your damn tone and stop sounding so adamant about how "wrong" or "unfair" the distribution method supposedly is.  Instead of demanding shit from someone who has made the effort and done all the work, why don't you stop being lazy and make your own coin with your preferred distribution method?  Self-entitled ingrates.  No one is forcing you to be here, so it stands to reason that all you're capable of is whining and have no discernible talents that would allow you to come up with anything better.

Agreed, the distribution model may have some flaws, but we are talking about free distribution. Also, has anyone actually used the wallet? Sending is nearly instantaneous, works great!  

[kola-schaar]

is it currently possible to make a paper only wallet using the seed?
or are files still needed to restore backup?

Excuse me for the noise. I do not know why the fortune hunters always discuss so much about fairness   (Maybe an old ritual to make more profit?  )
To your question - no, this is not possible:

pls, wht means : "to restor your wallets, you will need full backup of Bytesball setting. Just the wallet seed is not enough."

how i must save my wallet to restor it ?

You need to backup the entire wallet data folder, its location depends on your platform: https://github.com/byteball/byteball#byteball-backups-and-recovery.
But doing it is not practical, as you'll have to back up again every time you send or receive blackbytes (which are only saved in this folder).
A better option is to set up a multisig wallet with redundancy (such as 1-of-2 or 2-of-3) on multiple devices, which ensures that in case one of the devices fails you will still be able to use the wallet on the other device(s).  All devices will have a copy of the private payments (blackbytes).

yu say first 100k wallet loader will receive an part of 1% of all bytesball..yu talk of bytesball test or bytesball after beta..how you will distribute them ?

This is about livenet.
There is a long way ahead before we actually start to distribute this 1%, we will probably distribute only to mobile wallets after phone number verification.

and

Thanks HI-TEC99 and CryptKeeper for clarification

What exactly I need to do to secure a backup before update to v1.0.0?

"To restore wallets, you will need a full backup of Byteball settings. Just the wallet seed is not enough"

It's vital to backup this windows folder to ensure you get your blackbytes.

C:\users\<your user name>\AppData\Local\Byteball

The folder is normally hidden. If you haven't configured your computer to make it visible then click the windows orb, type %appdata% into the search box and press enter, Your hidden appdata folder should open.

It's also important to back up your wallet words (the seed) that you can view in the advanced section of your wallet.

[spark.bet]

On average 1% of byteball is exchanged every day.
Enough to swallow the whales.

[SatoNatomato]

Even after all these pages there's still some people whining about the distribution method.  While I'm sure suggestions are most welcome, check your damn tone and stop sounding so adamant about how "wrong" or "unfair" the distribution method supposedly is.  Instead of demanding shit from someone who has made the effort and done all the work, why don't you stop being lazy and make your own coin with your preferred distribution method?  Self-entitled ingrates.  No one is forcing you to be here, so it stands to reason that all you're capable of is whining and have no discernible talents that would allow you to come up with anything better.

Well said.

They all begin with "so unfair, cap it at X btc" and other "ideas" it took them entire 3 seconds to come up with, like people who actually cared enough to develop this byteball which took more than a year, would not have been so smart and had 3 seconds themselves to think of the same thing and discard it for very good reasons. Guess they will start demanding reasons and explanations for every fart another person does, without anyway being capable of understanding it.

[Jamus]

so is it a myth that byteballs is anon?

[drays]

Even after all these pages there's still some people whining about the distribution method.  While I'm sure suggestions are most welcome, check your damn tone and stop sounding so adamant about how "wrong" or "unfair" the distribution method supposedly is.  Instead of demanding shit from someone who has made the effort and done all the work, why don't you stop being lazy and make your own coin with your preferred distribution method?  Self-entitled ingrates.  No one is forcing you to be here, so it stands to reason that all you're capable of is whining and have no discernible talents that would allow you to come up with anything better.

Agreed, the distribution model may have some flaws, but we are talking about free distribution. Also, has anyone actually used the wallet? Sending is nearly instantaneous, works great!  

Sending is fast, but not always. One of my transactions with Blackbytes took almost 30 min to confirm. Others were faster, like about few minutes. I guess it depends on activity level on specific time of day..?

[drays]

so is it a myth that byteballs is anon?

Is this a new tune of dissatisfacted guy, after distribution concerns were not readily accepted?

Could you be more specific or use full English words at least?
This expression - "byteballs is anon" doesn't sound too descriptive. Basically, yes "byteballs" != "anon". Even the number of letters is different  
But what do you mean?

[Jamus]

so is it a myth that byteballs is anon?

Is this a new tune of dissatisfacted guy, after distribution concerns were not readily accepted?

Could you be more specific or use full English words at least?
This expression - "byteballs is anon" doesn't sound too descriptive. Basically, yes "byteballs" != "anon". Even the number of letters is different  
But what do you mean?

anonymous, for shady transactions, like monero and zcash

ive heard an attacker is able to source your IP as its peer to peer.

its a little deceptive from reading the ann.

yeah im a little dissatisfied, im allowed to share my concerns, we cant all love in happy unicorn shill land.

[crypt0hash]

Even after all these pages there's still some people whining about the distribution method.  While I'm sure suggestions are most welcome, check your damn tone and stop sounding so adamant about how "wrong" or "unfair" the distribution method supposedly is.  Instead of demanding shit from someone who has made the effort and done all the work, why don't you stop being lazy and make your own coin with your preferred distribution method?  Self-entitled ingrates.  No one is forcing you to be here, so it stands to reason that all you're capable of is whining and have no discernible talents that would allow you to come up with anything better.

Agreed, the distribution model may have some flaws, but we are talking about free distribution. Also, has anyone actually used the wallet? Sending is nearly instantaneous, works great!  

Sending is fast, but not always. One of my transactions with Blackbytes took almost 30 min to confirm. Others were faster, like about few minutes. I guess it depends on activity level on specific time of day..?

I think it depends on the volume of transactions on the network. The larger the transaction the faster the time of confirmation.

[zanzibar]

Agreed, the distribution model may have some flaws, but we are talking about free distribution. Also, has anyone actually used the wallet? Sending is nearly instantaneous, works great!  

Sending is fast, but not always. One of my transactions with Blackbytes took almost 30 min to confirm. Others were faster, like about few minutes. I guess it depends on activity level on specific time of day..?

Haven't tried to send Blackbytes, assuming there is some confirmation difference because it's anon, but regular Byteballs was lightning fast to confirm.

[Jamus]

this wallet runs mint, so according to the whiteoaper this is an entire platform.. dev has been busy indeed, im guessing he is cooking up something now

this will be an add for polo, completely new chain and platform, first coin to use a directed acyclic graph instead of a blockchain.

are there plans to put the platforms trustless exchange in-wallet?

will there eventually be gui to create smart contracts?

[kola-schaar]

....

anonymous, for shady transactions, like monero and zcash

ive heard an attacker is able to source your IP as its peer to peer.

its a little deceptive from reading the ann.

yeah im a little dissatisfied, im allowed to share my concerns, we cant all love in happy unicorn shill land.

Page 1
…. Users can also issue assets whose transfers are not published to
the database, and therefore not visible to third parties. Instead, the information about the
transfer is exchanged privately between users, and only a hash of the transaction and a
spend proof (to prevent double-spends) are published to the database.

Page 3 …
Privacy. … Transactions in bytes (the base currency) in Byteball are equally visible, but there is a second currency (blackbytes), which is significantly less traceable.

If you like to hide your IP you can run Byteball through TOR..(this has already been discussed)

I do not see any parallel to Monero / ZCash and that’s (in my opinion) a feature - such properties do not lead to worldwide acceptance of a basic technology.
It’s pure marketing - certain features are overburdened because they are just fashionable..
The marketing works just like for soft- and energy drink and their derivatives…

May be they are famous in cryptoland ( it’s more cryptovillage), but believe me they will never leave the village .. (But this is probably not their goal)
If you want to leave the village you need flexibility , compatibility and reliability.

[specturul]

I think this is good time to add Byteballs to good exchange such us bittrex. Similar situation was when poloniex added ETH, this gave huge breakthrough for this exchange.

[metamorphin]

I think this is good time to add Byteballs to good exchange such us bittrex. Similar situation was when poloniex added ETH, this gave huge breakthrough for this exchange.

cryptox.pl makes a good job!

Greetz
Steve

[SatoNatomato]

so is it a myth that byteballs is anon?

Is this a new tune of dissatisfacted guy, after distribution concerns were not readily accepted?

Could you be more specific or use full English words at least?
This expression - "byteballs is anon" doesn't sound too descriptive. Basically, yes "byteballs" != "anon". Even the number of letters is different  
But what do you mean?

anonymous, for shady transactions, like monero and zcash

ive heard an attacker is able to source your IP as its peer to peer.

its a little deceptive from reading the ann.

yeah im a little dissatisfied, im allowed to share my concerns, we cant all love in happy unicorn shill land.

No for shady transactions find a dark alley in your neighbourhood. Thats still safer than zcash.

Because even with zcash and monero to be safe, you still have to do more than just run their wallet software, you still have to know what the fuck you are doing, and if you are doing it on windows 10, then you fail and feds are watching you before you even began your transaction.

Byteball does allow direct transactions between users, transactions which wont be stored on a global database like with bitcoin. If you use byteball over tor or over i2p, even today you can use it over tor with proxychains or tsocks, then you are anonymous, and can transfer blackbytes between you and your dealer safely. 

[JariKriting]

I think this is good time to add Byteballs to good exchange such us bittrex. Similar situation was when poloniex added ETH, this gave huge breakthrough for this exchange.

you are true
i think byteball coin is good coin, and much people response can get byteball coin use linked bitcoin addres
is good to added in poloniex or bittrex, minimum in c-cex